Groupe la Francaise Buys 29,816 Shares of Barrick Mining Corporation $B

Key Points

• Groupe la Française increased its Barrick Mining stake by 3.3% in the second quarter, purchasing 29,816 shares and bringing its total holdings to 943,327 shares valued at approximately $34.7 million.
• Analysts maintain a generally positive outlook, with Barrick receiving a consensus “Moderate Buy” rating and an average price target of $52.36, despite several firms recently lowering their targets.
• Barrick reported quarterly EPS of $0.82, slightly above estimates, while revenue rose 43.8% year over year to $4.19 billion. The company also announced a quarterly dividend of $0.175 per share, or $0.70 annualized.

Groupe la Francaise raised its position in shares of Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX by 3.3% in the second quarter, according to its most recent filing with the SEC. The firm owned 943,327 shares of the gold and copper producer's stock after purchasing an additional 29,816 shares during the quarter. Groupe la Francaise owned approximately 0.06% of Barrick Mining worth $34,667,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Intesa Sanpaolo Wealth Management acquired a new stake in shares of Barrick Mining during the fourth quarter worth $26,000. Ascentis Independent Advisors acquired a new position in Barrick Mining in the first quarter valued at $28,000. JPL Wealth Management LLC bought a new stake in Barrick Mining during the third quarter valued at $28,000. Motiv8 Investments LLC bought a new stake in Barrick Mining during the fourth quarter valued at $31,000. Finally, Key Financial Inc grew its holdings in Barrick Mining by 137.5% during the 1st quarter. Key Financial Inc now owns 753 shares of the gold and copper producer's stock worth $31,000 after acquiring an additional 436 shares during the period. Institutional investors own 90.82% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on B. Royal Bank Of Canada dropped their price objective on Barrick Mining from $51.00 to $49.00 and set an "outperform" rating on the stock in a research note on Thursday, July 9th. Wall Street Zen downgraded Barrick Mining from a "buy" rating to a "hold" rating in a report on Saturday, August 15th. Weiss Ratings reissued a "buy (b-)" rating on shares of Barrick Mining in a research note on Friday, August 7th. Canadian Imperial Bank of Commerce set a $57.00 price target on Barrick Mining in a report on Wednesday, August 12th. Finally, Bank of America reduced their price objective on shares of Barrick Mining from $56.00 to $54.00 and set a "buy" rating for the company in a research report on Tuesday, August 11th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, Barrick Mining has a consensus rating of "Moderate Buy" and an average target price of $52.36.

Barrick Mining Stock Performance

Shares of B opened at $44.75 on Monday. Barrick Mining Corporation has a one year low of $27.43 and a one year high of $54.69. The company has a market cap of $73.65 billion, a PE ratio of 11.53, a P/E/G ratio of 1.28 and a beta of 0.51. The stock has a 50-day moving average of $40.13 and a 200-day moving average of $41.49. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.01 and a quick ratio of 2.36.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX last posted its quarterly earnings results on Monday, August 10th. The gold and copper producer reported $0.82 earnings per share for the quarter, topping analysts' consensus estimates of $0.81 by $0.01. The business had revenue of $4.19 billion for the quarter, compared to the consensus estimate of $5.10 billion. Barrick Mining had a return on equity of 16.02% and a net margin of 31.60%.The firm's revenue for the quarter was up 43.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.47 EPS. On average, equities research analysts predict that Barrick Mining Corporation will post 3.56 EPS for the current fiscal year.

Barrick Mining Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be issued a $0.175 dividend. This represents a $0.70 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date is Monday, August 31st. Barrick Mining's dividend payout ratio (DPR) is currently 18.04%.

Barrick Mining Company Profile

Barrick Gold Corporation, commonly known as Barrick, is a Toronto‑headquartered mining company focused on the exploration, development, production and sale of gold and copper. Listed on major exchanges (including the New York Stock Exchange under the symbol B), Barrick operates as an integrated minerals producer, running large‑scale mining complexes, processing facilities and related support services for extraction and metallurgical treatment of ore.

The company's activities span the full mining value chain: greenfield exploration, feasibility and permitting, mine construction, ongoing operations, and closure and reclamation.

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